Hudbay Minerals (TSE:HBM) Hits New 52-Week High – Time to Buy?

Shares of Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) hit a new 52-week high during trading on Friday . The company traded as high as C$28.44 and last traded at C$27.19, with a volume of 626119 shares. The stock had previously closed at C$27.25.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group upgraded shares of Hudbay Minerals to a “buy” rating in a report on Monday, September 8th. Royal Bank Of Canada raised their price target on Hudbay Minerals from C$26.00 to C$28.00 in a research note on Wednesday, December 10th. National Bankshares lifted their price objective on Hudbay Minerals from C$22.00 to C$25.00 in a report on Wednesday, October 8th. BMO Capital Markets increased their target price on Hudbay Minerals from C$23.00 to C$24.00 in a report on Tuesday, November 18th. Finally, Stifel Nicolaus boosted their price target on Hudbay Minerals from C$20.00 to C$28.00 in a research note on Tuesday, October 21st. Three research analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$24.10.

Hudbay Minerals Stock Up 1.3%

The company has a fifty day simple moving average of C$24.08 and a 200-day simple moving average of C$19.41. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39. The firm has a market cap of C$10.93 billion, a P/E ratio of 23.79, a price-to-earnings-growth ratio of 3.97 and a beta of 2.07.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its quarterly earnings data on Wednesday, November 12th. The mining company reported C$0.03 EPS for the quarter. Hudbay Minerals had a return on equity of 3.74% and a net margin of 4.23%.The firm had revenue of C$0.35 million for the quarter. On average, equities analysts anticipate that Hudbay Minerals Inc. will post 1.1220575 earnings per share for the current year.

Hudbay Minerals Company Profile

Hudbay Minerals Inc is a Canadian mining company with its operations, property developments, and exploration activities across the United States. The major mines that Hudbay operates are located in Manitoba, Canada, Arizona, United States; and Peru. The company is principally focused on the discovery, production, and marketing of base and precious metals. Hudbay produces copper concentrate, which contains copper, gold, and silver, as well as zinc metal. More than half the company’s revenue is attributable to the copper business.